Swing Trading and momentum investing stock pick newsletter and swing trading service.
The Hit List is a look at our current swing trading positions. Stocks we are already in have “triggered”, while those we are considering for plays have not triggered. Click post title to view print-friendly link.
LEAP, FMCN, FLS & WYNN added
No open positions – currently 100% cash.
No closed positions.
The Hit List is a look at our current swing trading positions. Stocks we are already in have “triggered”, while those we are considering for plays have not triggered. Click post title to view print-friendly link.
CBT & VNO closed
No open positions – 100% cash.
CBT tried to make some upward progress today, but couldn’t hold onto the early strength. Ultimately it slipped enough to trigger my stop loss, taking me out for a 3% gain. This one was never confirmed by volume and the move up was sluggish, making it not very trustworthy. With that being the case, I’m pleased to have closed it out for a winner. I’ll keep it on the radar in case it sets up again though.
VNO never showed the follow through I would have expected after a breakout from its bullish consolidation, so I tightened my stop last week in order to reduce risk. On Friday, the stock dipped and took me out for a modest 1.4% loss. This one isn’t ready to run, but I’ll keep it on watch in case it is able to exhibit some better strength.
The Hit List is a look at our current swing trading positions. Stocks we are already in have “triggered”, while those we are considering for plays have not triggered. Click post title to view print-friendly link.
MDVN closed
CBT had some pre-market prints below my stop loss level, but never traded down to the $25.80 level once it opened on the NYSE. Stops with my broker are based on the primary exchange, in this case the NYSE, so I am still in this position. Today’s action was very dull, although the stock was able to post a minor gain and exhibit a little bit of relative strength. Overall though, it was a day of rest. I’ll stick with my existing stop heading into tomorrow, as I still plan to keep it tight given the lack of strong upside volume since the breakout.
VNO slipped a little today, but no technical damage was done. Overall, this one did a pretty nice job of shaking off the widespread market weakness and holding up rather well. My stop did not change tonight, as I’m giving it a little breathing room while waiting for some follow through to arrive. If not, I’ll be looking at a small and manageable loss.
MDVN climbed early in the session to push through Target 1 where I booked 1/2 profits for a solid 5.9% gain. It then reversed and turned lower. The stock was able to rebound from its worst levels, but not before triggering my stop loss right on the number to stop out my 2nd half. Getting taken out on the low of the day is irritating, but this one still paid me well. I’m now out of this position with an average gain of 4.8%, a pretty decent winner during a time when the overall market remained range-bound. Volume never really confirmed the advance (as discussed last night), so I kept it tight and am pleased with the result. I’ll wait for a new pattern to emerge before considering a reentry.
The Hit List is a look at our current swing trading positions. Stocks we are already in have “triggered”, while those we are considering for plays have not triggered. Click post title to view print-friendly link.
CBT & MDVN & VNO stops tightened
CBT showed some nice relative strength the past couple of days, but today it put in some rest, giving back only a few cents. This one has been rather sluggish and with the exception of Tuesday, volume has not confirmed this move. As a result, I’m going to stick with it and watch for follow through, but with a pretty tight stop as of tonight in order to lock in some gains should this one happen to fade. The slow move higher on generally light volume is not a look I trust very much.
MDVN opened slightly higher today and quickly added to the early gains, running right up within 4 cents of Target 1 before backing off slightly and spending the remainder of the session in a narrow range not far from the highs. Today’s move is good follow through with the stock now reaching new recovery highs, and it bodes well for continuation in the days ahead. With Target 1 very close by and with volume still not confirming this advance, I’m tightening my stop aggressively tonight.
VNO spent the bulk of the day in positive territory, although it never really showed much momentum. Volume was rather quiet as well, so I’m still waiting for follow through here. I’ve adjusted my stop loss tonight to bring it up a little tighter, requiring a multi-day low to occur in order to take me out. However, if the stock will turn higher from here it will be irrelevant. A solid push through $71 is likely what it’ll take.
No closed positions.
